Ruther Glen, Virginia Property Taxes
The median property tax rate in Ruther Glen, VA is 0.81%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $281,600 in Ruther Glen, the typical annual property tax bill amounts to $2,281, falling below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ruther Glen's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ruther Glen or another part of Hanover County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ruther Glen, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,281
$2,117
Ownwell’s Ruther Glen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruther Glen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruther Glen to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ruther Glen, Virginia
Property taxes in Ruther Glen, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruther Glen is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Ruther Glen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruther Glen estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ruther Glen's effective property tax rate to other areas in Hanover County and the national median. For comparison, the zip code 22546 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Ruther Glen provides valuable insights into the varying tax landscape across Hanover County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruther Glen Tax Rate
0.81%
Average Hanover County Tax Rate
0.81%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruther Glen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22546 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Ruther Glen, Virginia
In Ruther Glen, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hanover County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ruther Glen, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ruther Glen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22546 has the highest and lowest median tax bill, both at $2,281.
Average Ruther Glen Assessed Value
$281,600
Average Hanover County Assessed Value
$334,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruther Glen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22546 | $69,460 | $168,800 | $281,600 | $406,700 | $536,420 |
Source: Ownwell
Property Tax Bills Across Ruther Glen, Virginia
In Ruther Glen, Hanover County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates the property's market value. Homeowners in Ruther Glen face varying tax bills depending on where their property values fall within the market spectrum. For instance, the median home price in this area is $281,600. Tax bills in Ruther Glen range significantly, with the 25th percentile at approximately $1,367 and the 75th percentile reaching up to $3,294. At the higher end, the 90th percentile tax bill is about $4,345. These figures reflect how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, the tax bills in Ruther Glen show a wide range, indicating the influence of local property values and assessment practices on the final tax amount.
Average Ruther Glen Tax Bill
$2,281
Average Hanover County Tax Bill
$2,727
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruther Glen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22546 | $563 | $1,367 | $2,281 | $3,294 | $4,345 |
Source: Ownwell